That once the Scholarship Fund has been formally and separately established the Society should seek donations from Members and well-wishers of sums which might be added to this Capital Sum to generate income for the Fund, or of sums which might be donated as income for spending in the following year.
That, in addition to the $350,000 to be transferred to the Foundation Fund as resolved above, a further sum of $50,000 be transferred to the Current Account of the Fund at the same time, that is, as soon as the Fund is formally established, to allow the Fund an initial sum for disbursements during the first year or two of the Fund's operations.
PATRICK H. HASE
PRESIDENT MARCH 2003
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